1 Dock Street Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04912184 (England and Wales)

1 Dock Street Limited

Financial Statements

for the Year Ended 31 December 2020

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr J Morgan

Mr N W Lenton

SECRETARY:

Mrs R J Morgan

REGISTERED OFFICE:

The Studio

32 The Calls

Leeds

West Yorkshire

LS2 7EW

REGISTERED NUMBER:

04912184 (England and Wales)

ACCOUNTANTS:

SMH Jolliffe Cork Ltd

Chartered Accountants

33 George Street

Wakefield

West Yorkshire

WF1 1LX

BANKERS:

Handelsbanken

5th Floor, 3 The Embankment

Sovereign Street

Leeds

West Yorkshire

LS1 4BJ

FIXED ASSETS

Investment property

4

1,100,000

1,100,000

CURRENT ASSETS

Debtors

5

27,392

-

Cash at bank

-

18,636

27,392

18,636

CREDITORS

Amounts falling due within one year

6

254,022

230,976

NET CURRENT LIABILITIES

(226,630

)

(212,340

)

TOTAL ASSETS LESS CURRENT LIABILITIES

873,370

887,660

CREDITORS

Amounts falling due after more than one year

7

74,229

146,884

NET ASSETS

799,141

740,776

CAPITAL AND RESERVES

Called up share capital

11

100

100

Retained earnings

12

799,041

740,676

SHAREHOLDERS' FUNDS

799,141

740,776

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2021 and were signed on its behalf by:

Mr J Morgan - Director

Mr N W Lenton - Director

1.	STATUTORY INFORMATION

1 Dock Street Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Turnover solely comprises rents receivable which is recognised on an accruals basis.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Operating lease agreements

Where the company retains substantially all the risks and rewards of ownership of the asset subject to the lease, as lessor, the asset is shown within fixed assets. Rental income from these operating leases is recognised on a straight line basis over the period of the lease. Operating lease incentives offered by the company are accounted for as a reduction of the rental income and are allocated over the shorter of the lease term and the period to the first rent review where market rentals will be receivable.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2020

and 31 December 2020

1,100,000

NET BOOK VALUE

At 31 December 2020

1,100,000

At 31 December 2019

1,100,000

Fair value at 31 December 2020 is represented by:

£

Valuation in 2012

(216,076

)

Valuation in 2013

150,000

Valuation in 2017

75,000

Valuation in 2018

15,000

Valuation in 2019

185,000

Cost

891,076

1,100,000

The Investment property was revalued by the directors as at 31 December 2020, based on their expertise in the property market, knowledge of the local area and guidance by an independent chartered surveyor. The property is stated at Market Value on an existing use basis.

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

27,040

-

Prepayments and accrued income

352

-

27,392

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Bank loans and overdrafts (see note 8)

79,453

71,270

Trade creditors

3,881

-

Tax

13,690

13,210

VAT

7,623

5,611

Directors' current accounts

127,697

127,697

Accruals and deferred income

21,678

13,188

254,022

230,976

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2020

2019

£

£

Bank loans (see note 8)

74,229

146,884

8.

LOANS

An analysis of the maturity of loans is given below:

2020

2019

£

£

Amounts falling due within one year or on demand:

Bank overdrafts

6,693

-

Bank loans

72,760

71,270

79,453

71,270

Amounts falling due between one and two years:

Bank loans - more than 1 year

74,229

146,884

9.	LEASING AGREEMENTS

Company as lessor

The company is party to an Underlease dated 17 October 2019 in respect of its investment property. The contractual term is ten years with a review date and break clause at the fifth anniversary of the lease.

At 31 December 2020, the minimum rental income receivable under non-cancellable operating leases fall due as follows:

2020

2019

£

£

Within one year

84,500

84,500

Between one and five years

232,375

316,875

316,875

401,375

10.	SECURED DEBTS

The following secured debts are included within creditors:

2020

2019

£

£

Bank loans

146,989

218,154

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2020

2019

value:

£

£

100

Ordinary

£1

100

100

12.

RESERVES

Included within retained earnings at 31 December 2020 is an amount of £208,924 which is non-distributable. This relates to an accumulated increase in the fair value of investment property.

13.	RELATED PARTY DISCLOSURES